Versartis Announces Pricing of Follow-On Offering

MENLO PARK, Calif., Sept. 28, 2016 -- Versartis, Inc. (Nasdaq:VSAR), an endocrine-focused biopharmaceutical company that is developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone (rhGH) for growth hormone deficiency (GHD), today announced the pricing of an underwritten public offering of 4,898,000 shares of its common stock at a public offering price of $12.25 per share. In addition, Versartis has granted the underwriters a 30-day option to purchase up to 734,700 additional shares of common stock at the public offering price.  The offering is expected to close on October 3, 2016, subject to customary closing conditions.

Cowen and Company, Barclays and Piper Jaffray are acting as joint book-running managers and representatives of the underwriters for the offering.  Canaccord Genuity and SunTrust Robinson Humphrey are acting as co-managers.

A shelf registration statement related to the offering was filed with the Securities and Exchange Commission (SEC) on November 6, 2015, as amended on December 4, 2015, and declared effective by the SEC on December 8, 2015.

The offering is being made only by means of a written prospectus and prospectus supplement that form part of the registration statement.  A preliminary prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov.  A final prospectus and accompanying prospectus will be filed with the SEC.  A copy of the final prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, or by calling 631-274-2806, or by faxing 631-254-7140; Barclays Capital Inc, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at [email protected]; and Piper Jaffray & Co., by mail at Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Versartis, Inc.

Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone in late-stage clinical trials for the treatment of GHD in children and adults. Somavaratan is intended to reduce the burden of daily injection therapy by requiring significantly fewer injections, potentially improving compliance and, therefore, treatment outcomes.

Contacts:

Corporate & Investors:
Joshua Brumm
Chief Financial Officer
(650) 963-8582
[email protected]

Corporate Communications:
Christine Labaree
Evergreen Communications
(650) 600-1697
[email protected]

Investors:
Nick Laudico/David Burke
The Ruth Group
(646) 536-7030/7009
[email protected]
[email protected]